Supernova Partners Acquisition Company III, Ltd. (STRE.U) Prices $250M IPO


Supernova Partners Acquisition Company III, Ltd. (STRE.U) Prices $250M IPO

Supernova Partners Acquisition Company II announced the pricing of its $250 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “STRE.U,” Tuesday, March 23.

The new company aims to combine with a technology target well-positioned to benefit from thematic shifts with a large addressable market and scalability. Supernova II is led by Co-Chairs Spencer M. Rascoff and Alexander M. Klabin alongside CEO Robert D. Reid and CFO Michael S. Clifton.

Total SPAC deal count for 2021 year-to-date is now 285. This offering is expected to close on Thursday, March 25.

J.P. Morgan Securities LLC and Jefferies LLC are acting as joint book-running managers for the offering. Latham & Watkins LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. American Stock Transfer & Trust Company is acting as trustee.